Honda Motor Co will overhaul its sourcing strategy by ditching its one-spec-fits-all method on global car models to better compete with Hyundai Motor and others in emerging markets, an executive said on Tuesday.
Honda, Japan's No.2 automaker, has until now used a common blueprint for components on cars built and sold globally for efficiency's sake, and to offer consumers around the world the same specifications for those models.
But Masaya Yamashita, head of Honda's purchasing operations, said that strategy was outdated and making some of its cars unnecessarily pricier in China, India and other regions at a time when South Korea's Hyundai and others were boosting sales with cars that were a better fit for local consumers.
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